Quick take:
- 0G, shortform for ZeroGravity will use the funds to accelerate the development of its on-chain scaling infrastructure for AI-powered Web3 applications.
- The company has developed a data availability layer with a general-purpose storage layer and a data publishing lane to solve the trade-off of scalability vs. security.
- 0G is leveraging blockchain modularity to improve its ability to scale up and handle large data flows.
ZeroGravity (0G) has secured a $35 million pre-seed round from more than 40 Web3 venture firms including Hack VC, Stanford Builders Fund, Alliance, Orange, Symbolic Capital, Delphi Digital, Dao5, Gumi, Dispersion Capital, OKX Ventures, GSR, DWF, Animoca, No Limit Holdings, Arca, NGC, Paramita, Foresight, Crypto Banter, Joe Takayama, Santiago Santos, and Abstract Ventures.
0G is building a modular scaling infrastructure that brings scalability to blockchain applications without sacrificing security. Modular blockchains allow networks to achieve scalability by separating tasks, thus enabling different systems to focus on specific tasks instead of trying to do everything.
0G’s platform eases the pressure of building data-intensive on-chain applications, including data-intensive Layer 2 networks, blockchain gaming, high-frequency DeFi protocols, and decentralized AI applications, in an industry that is rapidly finding more use cases for such applications.
The company has built a data availability layer with a general-purpose storage layer and a data publishing lane, which significantly improves its to scale up and handle large data flows.
Commenting on his firm’s participation in the fundraising Ed Roman, Managing Partner at Hack VC said in a statement: “0G is positioned as the premier modular data availability solution for web3, including the next frontier of crypto-powered AI networks. Their data availability technology has shown to achieve speeds 1000x+ faster and cheaper than ETH L1, which is simply phenomenal. We’re proud to be their partners in this journey, and can’t wait to see their ecosystem thrive as the team pushes forward towards main-net.”
0G boasts a strong leadership with experience across Web3, technology, and finance with some of the team members having worked at Microsoft, Bain, Bridgewater Associates, Harvard Business School, Stanford, and IDEO.
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